FCPO
FCPO 3rd Month Futures - 12 Feb 2025
Wed, 12-Feb-2025 08:35 am
by Dealing Team • Apex Futures

FCPO
Pivot
4565
Resistance
4616 / 4637 / 4659 / 4684
Support
4590 / 4565 / 4542 / 4518
Possible Range
4550 to 4650
Strategy
Long positions may be opened above 4590 with targets 4616/4637 at stop-loss at 4570
Short positions may be opened below 4590 with targets at 4565/4542 stop-loss at 4610

FCPO Apr month contract rose 89 points or 1.98% to closed higher at 4593. Malaysian crude palm oil futures climbed for the fourth consecutive session on Monday, driven by industry regulator data showing a decline in the country's stock levels and expectations of stronger demand, boosting market optimism.

Overnight soybean oil for the March contract rose 0.40 to closed higher at 46.13. Dalian’s active palm oil contract rose 66 points to close higher at 9118 on previous night session.

The actively traded FCPO contract broke resistance at 4,550–4,545 on the daily chart, reaching 4,617 before pulling back. It is likely to trade above this range. On the hourly chart, it breached 4,565–4,575, now a support zone. Holding above keeps the buy plan intact, with resistance at 4,615–4,620 and a breakout potentially targeting 4,635–4,640. Stay alert to potential sentiment changes. The immediate support and resistance levels are pinpointed at 4590 and 4616, respectively.

(News Source: Reuters)

Read more details in:

Disclaimer

The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.

Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.

Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 3.952219 3.979032
EUR 4.632284 4.636049
CNY 0.579684 0.580150
HKD 0.504395 0.507834
SGD 3.092296 3.113419